In brief
- Strive bought 3,311 BTC worth roughly $280 million between Oct. 5 and Oct. 9 at an average price of about $84,500 per coin, its largest purchase since January, lifting holdings to 32,773 BTC.
- The buy caps an aggressive run—following $169 million and $94.5 million purchases—for the firm, which trades as ASST and recently merged with Semler Scientific to grow its balance sheet.
- It lands amid heavy treasury activity from Strategy, Solana’s DeFi Dev Corp. and Bitmine, as Strive bought into a dip well below Bitcoin’s recent highs.
Strive is piling into Bitcoin at its fastest clip of the year, scooping up another 3,311 BTC worth roughly $280 million in its biggest single purchase since January.
The Nasdaq-listed asset manager, which trades under the ticker ASST, disclosed in a filing Monday that it bought the Bitcoin between Oct. 5 and Oct. 9 at an average price of about $84,500 per coin, including fees. The buy lifts Strive’s total holdings to 32,773 BTC, worth roughly $2.73 billion at today’s prices, up from 29,462 BTC a week earlier.
The purchase caps a stretch of aggressive accumulation. Strive added $169 million in Bitcoin earlier this month in what was then its largest buy in four months, after pushing its stack past 27,000 BTC with a $94.5 million purchase in late September.
The latest tranche extends that momentum, and the timing is notable: the firm bought as Bitcoin slid through a rough week, picking up coins at an average price well below the token’s recent highs near $87,000.
Strive, led by CEO Matthew Cole, is among a wave of public companies that have adopted Bitcoin treasury strategies, raising capital to stockpile the asset and tie their share price to its performance.
→The model, pioneered by Michael Saylor’s Strategy, has drawn a crowded field, and Strive has moved aggressively since going public through its merger with Asset Entities, recently completing a tie-up with Semler Scientific to bulk up its balance sheet. Beyond its Bitcoin, the company also holds about 505,000 shares of Strategy’s STRC preferred stock, valued near $50 million, and roughly $310 million in cash.
The buying spree arrives amid a flurry of treasury activity across the sector. Strategy itself recently added $21.5 million in Bitcoin while buying back preferred stock, Solana treasury firm DeFi Development Corp. kept accumulating SOL, and Bitmine continued stacking Ethereum, though chairman Tom Lee said that company is nearly finished and will halt purchases once it holds 5% of the token’s supply.
The strategy carries the category’s familiar risk: Strive’s fortunes rise and fall with a notoriously volatile asset. Buying into a dip can pay off if Bitcoin rebounds, but the same exposure cuts the other way, and treasury firms have faced scrutiny over how much their stock premiums depend on continued accumulation.